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December 2015 Interviews

Paul Craig Roberts

December 27, 2015 - No Recovery Whatsoever - Former Assistant Treasury Secretary Dr. Paul Craig Roberts has a dim view of the so-called “economic recovery.” Dr. Roberts contends, “There has been no recovery whatsoever. If you look at the economy realistically, and that means you don’t use their phony numbers, there has been no recovery whatsoever and, in fact, it continues to worsen. We see that the “Labor Force Participation Rate” continues to sink. When you consider the full measure of unemployment, we still have an unemployment rate of 23% after 7 years of an alleged recovery. I think this is the first so-called recovery where the labor force fell. Normally, when you have a recovery, people re-enter the labor force and the participation rate rises. How do you have 5% unemployment when half of all 25 year old people have to live at home with their parents? What kind of a “recovery” is that? They say there is no inflation, but everyone that goes shopping knows that is a lie. It’s all just a package of smoke, mirrors and lies.”

December 23, 2015 - Next Financial Meltdown Blamed on War - Trader/analyst Gregory Mannarino says the overall trend in the stock market is down, and he is anticipating more central bank intervention to keep propping up the sinking economy. Mannarino contends, “Without any doubt, they are going to keep doing this. They are going to keep trying to intervene in any way possible with things we can’t even think of yet. In my opinion, the main goal of all of this is to bring us to war. Bring us to war as this whole thing begins to meltdown, so they can blame it on that. They are going to look for a scapegoat . . . because it’s so distorted and so twisted it has to correct to fair market value at one point. They can keep twisting it and distorting it and manipulating it and faking data, but at one point, they are going to have to pay the piper. Everyone is going to have to pay the piper, and that’s going to be a terrible moment.”

December 16, 2015 - Worldwide Credit Bubble Bursting Now - Analyst/money manager Michael Pento says the Fed plans on raising interest rates multiple times. "The Fed is not going to raise one time and retire and go home, and that is not even the most important point. The most important point is we have reached a point where we are entering into a global recession, and this global recession is going to occur even if the Fed did not raise interest rates more than one time. It’s happening now.” Pento, who wrote the 2013 book “The Coming Bond Market Collapse,” says almost every country in the world is in deep financial trouble and contends, “You’re seeing the bursting of this worldwide credit bubble, and the first cracks are appearing in junk debt. The global economy has never been more addicted to 0% interest rates ever before in the history of economics or the history of the world. You are starting to see that crack, and that crack is going to occur. all the metrics I look at are screaming recession outside of the Fed’s rate hike.”

December 14, 2015 - Obama Administration has Formed an Alternate Reality -Former CIA Officer Scott Uehlinger says what is going on with ISIS and oil sales was known at the Obama Administration because the CIA told them. Uehlinger says, “That’s right, and this is the big frustration with being an intelligence officer, especially in today’s world. There is always a problem with your intelligence falling on deaf ears, or your intelligence is deliberately ignored. . . . In the bigger picture, and you’re working your butt off, meeting people at midnight, getting information, maybe at the risk of his life or yours, and it’s given to the policymakers and they take your intelligence and roll it up into a ball, throw it in the waste basket, then what is the whole point of this exercise? That is the way this administration is more than any one I have ever read about or lived through. This administration has formed almost an alternate reality as it refuses to accept any information that would force them to leave this narrative.”

December 9, 2015 - End Game Machinations Happening Now - Macroeconomic analyst Rob Kirby says the U.S. dollar is constantly manipulated by the Treasury. Kirby contends, “I think we are palpably close to major dislocations in the market. China has been selling U.S. securities on an all-out basis. So, the U.S. Treasury market is weak. So, when the Treasury sees this, it runs counter-intuitive to the strong U.S. dollar which has been a rig job from the get go. The strong dollar and swap spreads trading negative are absolutely in opposition to each other. It exposes that something is tragically wrong, and it is something that doesn’t make sense. It’s like shining light on cockroaches.” Kirby is also an expert on gold and helps attain gold for his ultra-wealthy clients by the ton. Kirby says, “They can’t get enough of precious metals. They scour the earth looking for large amounts of metal. People that I work with represent money so large that they know they’re going to end up in the very end game, that they are going to end up with a whole lot of dollars that are going to be worth nothing. They accept that, but in the meantime, they are going to convert as many of those dollars as they can into things that are tangible and are going to maintain value once the world gets it and realizes the U.S. dollar is tapioca and is worth nothing.”

December 7, 2015 - War & Economic Calamity Coming, 2016 Predictions - Top trends forecaster Gerald Celente says 2016 is going to be very rough. What’s coming right at us? Celente says, “Global recession, and it’s already happening, all they have to do is open their eyes and open their ears. Iron ore, copper, aluminum, nickel, zinc, one after another from wheat to dairy products to corn. When you look at the Bloomberg Index, it’s down to 1999 levels on average. What is that telling us?: Celente says all this is signaling another financial bust bigger than 2008 and explains, “So, what you have is a bubble, a debt bubble that has grown to $220 trillion worldwide since this fake quantitative easing and negative interest rate schemes that have gone on with central bank after central bank. . . You can’t make this up." Interest rates and negative yields have never happened before in the world. Gold and silver are running counter to other commodities. Why? Celente says, “Demand is up for gold and silver. To me, it is the ultimate safe haven. I’ve been saying since 2012 and 2013 that the bottom for gold is about $1,050 an ounce. I gave that number out because that’s about what it costs to pull it out of the ground. . . . Gold is about planning for the worst.”

December 2, 2015 - Yellen Has No Choice But to Raise Rates - Analyst/trader Karl Denninger predicted years ago that Obama Care would? “kill the economy” and “eventually implode.” That is exactly what’s happening now. Denninger contends, “The majority of the money we spend in healthcare is jacked up due to these monopolist policies which raise the cost four or five times where it ought to be. On top of that, we are being forced to pay for people who have made lifestyle choices that dramatically raise their cost of healthcare. With the economy sinking in part due to Obama Care, is the Fed going to raise rates soon? Denninger says, “Janet Yellen doesn’t have any choice but to raise rates. We have an emergency policy rate right now that is destroying the pension funds and the insurance companies in this country. This is where the pressure is coming from. It has nothing to do with the economy. It has everything to do with fixed income bond ladders. That is a mathematical problem that Yellen has to confront. She certainly is going to take a lot of heat, but rates are going to go up.”